Most Recent Posts
Is There a Media Blackout of the Student Loan Crisis ?
Yet another: why on earth has the media completely failed to follow up on the fact that not only the big lenders and guarantors make money on defaults…even the federal government (Yes, the Department of Education), actually makes money on defaults, and makes more on defaults than on loans which remain in good stead? This has been the case for years, yet where is the media?
Dude Ranch Shareholders Learn What You Do Know Can Hurt You
Originally Published on forbes.com on January 13th, 2012 ______________________________________ It never ceases to amaze me that 25 years after the Tax Reform Act of...
IRS Eases Up on Abuse Victims
Originally Published on forbes.com on January 27th, 2012 ______________________________________ It is a real tragedy that someone can escape an abusive marriage, only...
Hooking Up With Gen Y – Challenge for Business
Originally Published on forbes.com on January 27th, 2012 ______________________________________ Tim Smith blogs on the “Echo Boom”, also known as Generation Y...
Gingrich and Medicare Tax – Pig Maybe – Hog Not – Geithner Definitely Not
Originally Published on forbes.com on January 23rd, 2012 ______________________________________ At Joseph B. Cohan and Associates, the top 20th century...
Joint Return for Divorcing Spouses – Think Thrice – Then Think Again
Originally Published on forbes.com on January 22nd, 2012 ______________________________________ Innocent spouse cases frequently frustrate me. Often it is because the...
Left Should Challenge Obama, Not Romney, on Carried Interest
Originally Published on forbes.com on January 20th, 2012 ______________________________________ Criticizing Romney for paying an average rate of 15% is ridiculous. ...
Northwestern Whole Life Policy Creates Tax Disaster – Again
Originally Published on forbes.com on January 19th, 2012 ______________________________________ Life insurance is a tax favored vehicle. The build-up in value is tax...
Is Tax Court Decision End of Colorado Conservation Range War ?
If you are considering a conservation easement donation, be sure to use an organization with a long-established track record and significant resources. Don’t do it unless you have a sincere desire for the property to be preserved. And when it comes to the valuation, there is being aggressive and there is being crazy. As we used to say at Joseph B. Cohan and Associates, “Pigs get fed. Hogs get slaughtered.”
Photographing, Writing, Flying But Ultimately Not Deducting
The Court also had issues with substantiation. Although he had receipts for his expenses, they were not correlated with the business purposes of the expenditures. Mr. Oros was representing himself in Tax Court, which is understandable given the relatively low stakes. I’m wondering if the case might have gone the other way if he had had a tax litigator in his corner. He had consulted with a CPA on the deductibility of his expenses before filing, which at least saved him penalties. Lew Taishoff did a nice piece on this case titled “I Could Write a Book.”